Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Umicore a Belgian multinational company has announced that it will dismiss approximately 100 employees, mainly at its facility in Olen. In total around 76 employees will be dismissed at that facility and another 31 at the facility in Brussels. The employees involved will mainly be white-collar workers as well as professional and managerial staff.
The main reason behind the dismissals is the reduced demand for batteries, where initially more demand was expected by the company. The measure frames in a larger effort to reduce costs, with facilities affected in other countries as well, including China, Denmark and Canada.
Eurofound (2024), Umicore, Internal restructuring in Belgium, factsheet number 201946, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201946.